Kura Sushi reports Q2 EPS (9c), consensus (3c)

Reports Q2 revenue $57.3M, consensus $56.6M. Hajime Uba, CEO, stated, “I’m very pleased to report the ongoing strength of our business as we progress through a record fiscal year. It was unprecedented for us when we announced a guidance raise so early in the year with our first quarter call, and being able to follow the next quarter with another guidance raise demonstrates our incredible confidence in the business. We’ve opened 10 restaurants to date, putting us well on track for our new unit guidance and giving us the confidence to upgrade our revenue guidance. For our second quarter, we leveraged G&A year-over-year as a percentage of sales by 190 basis points, and grew Adjusted EBITDA by 23%. We’ve introduced new projects such as DoorDash, and our operations teams have more than risen to the challenge of implementing them. I’m extremely proud of everyone’s efforts, and want to acknowledge all of our team members and thank them for creating so much great news.”